Question

4. The table below shows the demand and supply schedules for boxes of chocolates. Price Quantity Demanded Quantity Supplied 13 1600 1200 14 1500 1300 15 1400 1400 16 1300 1500 17 1200 1600 18 1100 1700 a. Draw the demand and supply curves. b. What is the market equilibrium? Price___ Quantity_ c. If the price of a box is $14, there is a _ in the market. d. If the price is $17, there is a _ in the market. e. What is the market equilibrium if negative advertisement changes the quantities demanded of chocolate by 400? Price_ Quantity_ f. What happens to the market equilibrium in part b if positive advertisement changes quantities demanded by 100 and at the same time higher productivity of labor changes quantities supplied by 300? Price_ Quantity___

          4. The table below shows the demand and supply schedules for boxes of chocolates.

Price Quantity Demanded Quantity Supplied
13 1600 1200
14 1500 1300
15 1400 1400
16 1300 1500
17 1200 1600
18 1100 1700

a. Draw the demand and supply curves.
b. What is the market equilibrium? Price_______ Quantity_______
c. If the price of a box is $14, there is a _______ in the market.
d. If the price is $17, there is a _______ in the market.
e. What is the market equilibrium if negative advertisement changes the quantities demanded of chocolate by 400? Price_______ Quantity_______
f. What happens to the market equilibrium in part b if positive advertisement changes quantities demanded by 100 and at the same time higher productivity of labor changes quantities supplied by 300? Price_______ Quantity_______

4. The table below shows the demand and supply schedules for boxes of chocolates.

Price Quantity Demanded Quantity Supplied
13 1600 1200
14 1500 1300
15 1400 1400
16 1300 1500
17 1200 1600
18 1100 1700

a. Draw the demand and supply curves.
b. What is the market equilibrium? Price Quantity
c. If the price of a box is 14, there is a in the market.
d. If the price is17, there is a in the market.
e. What is the market equilibrium if negative advertisement changes the quantities demanded of chocolate by 400? Price Quantity
f. What happens to the market equilibrium in part b if positive advertisement changes quantities demanded by 100 and at the same time higher productivity of labor changes quantities supplied by 300? Price Quantity

Added by William H.

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